Wednesday, January 25, 2012

Here's the Real Problem At the Federal Level


I've shows this graphic a few times in various forms, but it really deserves to be repeated.  At the federal level, we have two issues: low tax receipts and high spending.  As I've pointed out a few times, the big issue in the spending room is health care costs in the federal budget.  However, at some point, taxes are going to have to go up as well.

The above graph is from Econbrowser.